economic forum


Nordexo participates in the III International Economic Forum

Nordexo team

On November 1, 2019, the Latvian Academy of Sciences hosted the III International Economic Forum "Business Support: Critical Points, Science -Based Solutions, International Cooperation", which was attended by Nordexo. Daniils Vladimirovs, Head of Nordexo, and Dr.oec. Ilona Dubra presented the Nordexo vision of digital solutions as an effective tool for the faster development of the business environment with the presentation "Automation of SME Business Processes in the Post Digital Age".

In fact, digital innovation is a strategic center for SME development in the era of digitalization. Given that the fourth industrial revolution is exploring all traditional ways to carry out the best business practices, companies need to develop new skills and find appropriate solutions that will help to better operate and spend less resources.

Business process automation (BPA) and robot process automation (RPA) can actually automate various business processes such as email processing, bill management, salaries and data entry. Using the tools available today, the foundation of modern SME development can be strengthened by automation of internal processes.

Global spending on the RPA software worldwide reached around $680 million in 2018. They are expected to increase by 57 percent year-on-year, according to the latest Gartner Inc. studies. RPA software expenditure will increase to $2.4 billion in 2022. The largest implementers of the RPA are representatives of banking, insurance companies, utilities and telecommunications companies.

Systematic automation of small tasks provides work digitization by reducing time and cost of tasks that do not require human manual intervention. Robotization and automation at a simple level are effective for large companies and SMEs, it is faster and cheaper and can work effectively on a smaller scale. Automation of small tasks can make certain processes by 80-100% more productive, and it does not require additional attracting specialists with appropriate knowledge and skills.

Published at 03.11.2019.